SANTA ANA, CA– Grubb & Ellis Realty Investors, LLC has secured a 47,000 square-foot lease at Lake Center IV, (top left photo) a four-story Class A office building located in Marlton, N.J., owned and managed on behalf of tenant-in-common investors.Conner Strong Companies Inc., a leading provider of property and casualty insurance and employee benefits products and services with clients in all 50 states and abroad, has signed a 10-year lease agreement to occupy the third and fourth floor of Lake Center IV.
The space makes up more than 50 percent of the building. The company will take occupancy in March 2009.
“The large amount of space became available at Lake Center IV when the mortgage lending company that previously occupied the space dissolved,” explained Kent Peters, (top right photo) executive vice president of Asset Management, Grubb & Ellis Realty Investors.
“The large amount of space became available at Lake Center IV when the mortgage lending company that previously occupied the space dissolved,” explained Kent Peters, (top right photo) executive vice president of Asset Management, Grubb & Ellis Realty Investors. “We were able to backfill the space quickly with a high-quality tenant and I couldn’t be more pleased with our results on behalf of the tenant-in-common owners of this asset.”
Purchased by Grubb & Ellis Realty Investors in May 2006, Lake Center IV is situated on approximately eight acres of land within a roughly 19 acre office park, and includes walking and jogging paths overlooking two lakes.
Anne Klein, senior vice president, and Joe Sklencar Sr., senior associate, of Grubb & Ellis’ Marlton office negotiated the lease on behalf of Grubb & Ellis Realty Investors.
“When we learned the space was being vacated, we began contacting every decision maker in the marketplace to make sure we saw all large deals taking place that we could become involved with,” said Klein.
Purchased by Grubb & Ellis Realty Investors in May 2006, Lake Center IV is situated on approximately eight acres of land within a roughly 19 acre office park, and includes walking and jogging paths overlooking two lakes.
Anne Klein, senior vice president, and Joe Sklencar Sr., senior associate, of Grubb & Ellis’ Marlton office negotiated the lease on behalf of Grubb & Ellis Realty Investors.
“When we learned the space was being vacated, we began contacting every decision maker in the marketplace to make sure we saw all large deals taking place that we could become involved with,” said Klein.
Contacts: Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com
Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com
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